Mindtree's Q4 net up 14 pc at Rs 78.9 cr

MUMBAI: Mid-sized IT firm MindtreeBSE -1.64 % today said its standalone net profit has increased 14 per cent to Rs 78.9 crore for the quarter ended March 31, 2013. 

This is against Rs 69.2 crore registered in the same period last year, MindTree said in a statement. 

MindTree's standalone revenue grew 16.5 per cent to Rs 612.4 crore for the reported quarter from Rs 525.7 crore in the year-ago period, it added. 

For the year ended March 31, 2013, the company's standalone net profit grew 55 per cent to Rs 338.9 crore, while revenues were up 23.3 per cent to Rs 2,361.8 crore. 

"In a challenging year, we have delivered revenue growth and better margins. We have also delivered consistently, setting up a platform for continued improvements," MindTree MD and CEO 
Krishnakumar Natarajan said. 

The company had 232 active customers as on March 31, 2013, while USD 20 million customers increased to five, the statement said. 

MindTree added 974 employees in the quarter to take its total headcount to 11,591 employees as on March 31, 2013. 

The Board of Directors recommended an interim dividend of 40 per cent (Rs 4 per equity share of par value Rs 10 each) and a final dividend of 50 per cent (Rs 5 per equity share) for the fiscal ended March 2013, subject to approval by shareholders at the forthcoming AGM. 

Along with the interim dividend of 30 per cent declared in October last year, the total dividend for the year comes to 120 per cent (Rs 12 per equity share). 

The company said it intends to maintain similar or better levels of dividend payout over the next few years in view of the improved predictability and stability of the company's operations. 

"However, the actual dividend payout in each year will be subject to the investment requirements of the annual operating plan for the year and any other strategic priorities identified by the company," the statement said. 

Besides, the Board has also approved Kalyan Kumar Banerjee's request for de-classification as a promoter with immediate effect.